tim mulholland of china-america capital joins us now. good morning to you tim. it is the final trading day of the month. what do you anticipate? > > i think more of the same we've been seeing. the market seems to think it has a lot of resilience. we bounced earlier this week off of the 200-day moving average. s&p down around 1382-3 level. we are now near the post-election highs, which, end-of-month buying, typically book-squaring and so forth, typically leads to higher prices, so i would probably expect that, albeit interrupted by headlines regarding the fiscal cliff. > what is your reaction to a lawmaker who wants to put an extra tax on high-speed trading? what do you think about that? > > i think it is short- sightedness. i don't mean that as any real criticism, but when you look at it, they really want to arrest the problem. it should really be on cancellations. the speed of trading isn't- in my opinion, isn't really the issue. speed should be competitive and whatnot. as long as everyone has the same fair advantage to that, i think that's what the key is. put